Mortgage Industry Advisory Corp. (MIAC) is facilitating the sale of a Fannie Mae/Freddie Mac/Ginnie Mae mortgage servicing rights (MSR) portfolio with unpaid principal balance (UPB) of $180.9 million.
The seller, which originates loans across the entire U.S., will be providing full representations and warranties, MIAC states in a press release. Many of the loans are concentrated in California.
Fixed rate loans account for 97.64% of the portfolio, while adjustable rate mortgages account for 2.36%.
About 65% of the portfolio is Fannie Mae loans, while 23.51% is Freddie Mac and 10.91% is Ginnie Mae. The average loan size is $267,217.
The weighted average interest rate is 4.502%. The weighted average delinquency rate is 0.44%. The weighted average loan age is two months.
Bids are due by April 30.